Bank Remains Bullish on BAC Despite Target Cut
From Yahoo Finance: 2025-04-16 13:45:00
Canadian bank RBC cut its price target on Bank of America (BAC) stock to $45 from $50 but remains positive on the shares. BAC reported first-quarter financial results. RBC cites macroeconomic issues for the price target cut, but believes BAC’s efforts to increase deposits and loans will boost profits long-term.
RBC Capital is impressed by BAC’s low-cost deposit base and measures taken to reduce risk post-financial crisis. Analysts forecast BAC’s earnings per share to rise to $3.64 this year and $4.26 in 2026. In the last month, shares fell 10%, and 20% in the last three months.
While RBC sees potential in BAC, they believe AI stocks offer higher returns in a shorter timeframe. A report highlights an AI stock with promising growth since 2025, trading at less than 5 times earnings. For more on AI stocks, visit link.